Rio Tinto Considering IPO For US Coal Assets |
| CNNMoney.com - Aug 8, 2008 |
Diversified global miner Rio Tinto PLC (RTP) Friday said it was considering an initial public offering for its U.S. coal business instead of an outright sale to another company.
Rio Tinto has targeted the sale of $10 billion in assets this year and has said it will sell at least $15 billion in total as it defends itself against a hostile bid from BHP Billiton Ltd. (BHP).
Rio Tinto subsidiary Cloud Peak Energy Inc., based in Gillette, Wyo., Friday filed an IPO prospectus with U.S. Securities and Exchange Commission.
The filing lists a maximum offering price of $1 billion, though a company spokesman noted that figure is used to determine a filing fee and doesn't indicate the ultimate proceeds.
Read Full Article from CNNMoney.com
- Posted: 2008-08-08 09:25:03
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